Intuit (NASDAQ:INTU) Issues Q1 Earnings Guidance

Intuit (NASDAQ:INTU) updated its first quarter earnings guidance on Thursday. The company provided EPS guidance of $0.23-0.25 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.35. The company issued revenue guidance of $1.105-1.125 billion, compared to the consensus revenue estimate of $1.12 billion.Intuit also updated its FY 2020 guidance to $7.50-7.60 EPS.

Several brokerages have issued reports on INTU. ValuEngine lowered Intuit from a strong-buy rating to a buy rating in a research note on Friday, April 26th. BidaskClub raised Intuit from a buy rating to a strong-buy rating in a research note on Tuesday, July 9th. Barclays upped their target price on Intuit from $245.00 to $276.00 and gave the stock an equal weight rating in a research note on Friday. Jefferies Financial Group upped their target price on Intuit from $272.00 to $300.00 and gave the stock a buy rating in a research note on Friday, May 24th. Finally, Stifel Nicolaus upped their target price on Intuit from $290.00 to $315.00 and gave the stock a buy rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Hold and an average price target of $268.10.

Shares of NASDAQ:INTU traded up $16.49 during trading on Friday, reaching $292.20. 581,123 shares of the company traded hands, compared to its average volume of 1,183,122. The firm has a market capitalization of $70.73 billion, a price-to-earnings ratio of 64.50, a P/E/G ratio of 2.74 and a beta of 1.10. Intuit has a 52-week low of $182.61 and a 52-week high of $284.97. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.10. The business’s fifty day moving average is $276.26 and its 200-day moving average is $257.27.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.37. The firm had revenue of $994.00 million during the quarter, compared to analyst estimates of $964.02 million. Intuit had a return on equity of 52.65% and a net margin of 24.34%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 earnings per share. On average, sell-side analysts predict that Intuit will post 5.49 earnings per share for the current fiscal year.

In related news, Chairman Scott D. Cook sold 103,817 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $258.59, for a total transaction of $26,846,038.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Scott D. Cook sold 133,334 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $262.87, for a total value of $35,049,508.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 277,296 shares of company stock valued at $72,342,898. Insiders own 4.60% of the company’s stock.

About Intuit

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Earnings History and Estimates for Intuit (NASDAQ:INTU)

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